Press Release

Release Date: February 3, 2010

For release at 2:30 p.m. EST

Ben S. Bernanke was formally sworn in for a second four-year term as Chairman of the Board of Governors of the Federal Reserve System at a ceremony Wednesday afternoon in the atrium of the Board's main building in Washington.

Chairman Bernanke began his second term on February 1 following his confirmation by the Senate on January 28 and a hearing on December 3 by the Senate Committee on Banking, Housing and Urban Affairs. President Obama announced his intention to nominate Chairman Bernanke on August 25. He originally took office as Chairman on February 1, 2006.

Chairman Bernanke's new term as Chairman ends January 31, 2014, and his 14-year term as a member of the Board ends on January 31, 2020.